A fresh high: Sensex skyrockets 958 points; Nifty tops 17,800
(Sourced from PTI)
Equity benchmark Sensex zoomed 958 points to end at a fresh lifetime high on Thursday, tracking gains in index majors Reliance Industries, HDFC twins, and ICICI Bank amid a positive trend in global markets. Similarly, the broader NSE Nifty soared 276.30 points or 1.57 percent to its new closing peak of 17,822.95. It touched an intra-day record of 17,843.90.
After scaling a new peak of 59,957.25 during the day, the Sensex settled 958.03 points or 1.63 percent up at an all-time high of 59,885.36. Bajaj Finserv was the top gainer in the Sensex pack, rising over four percent, followed by L&T, HDFC, Axis Bank, SBI, Reliance Industries, and IndusInd Bank. On the other hand, Dr Reddy's, ITC, Nestle, and HUL were the laggards.
"Domestic equities witnessed sharp recovery with benchmarks Nifty and Sensex both recording fresh all-time highs," said Binod Modi, Head-Strategy at Reliance Securities. "Favorable FOMC meeting outcome and ease of concerns from the possible default of Evergrande aided the market rally. Financials and Reliance Industries have dominated market rally, followed by metals, IT, and auto," he added.
US Federal Reserve Chair Jerome Powell said the Fed plans to announce as early as November that it will start to taper its monthly bond purchases, should the job market maintain its steady improvement. Elsewhere in Asia, bourses in Shanghai and Hong Kong were trading on a positive note and ended with gains, while Seoul was in the red.
The Japanese market was closed for holidays. Stock exchanges in Europe were also trading on a positive note in the mid-session deals. Meanwhile, international oil benchmark Brent crude slipped 0.12 percent to $76.10 per barrel.